The combined chief operating officer and chief financial officer of online fashion retailer ASOS is stepping down as part of a management restructure.

Mat Dunn joined the board of ASOS in April 2019 as CFO before taking on the additional role of COO in October 2021.

As part of a phased plan, Dunn will continue in his role and as a member of the board until at least October 31, 2022 and will remain employed until the end of the year to provide transitional support.

In June the London-headquartered retailer issued a profit warning after a rise in shoppers returning clothes amid the cost of living crisis.

At the same time chief commercial officer José Antonio Ramos Calamonte was appointed CEO and Jørgen Lindemann became chair.

ASOS reveals new CEO amid profit warning

ASOS chairman Lindemann said: “I would like to thank Mat for the enormous contribution he has made to ASOS over the past three years, and in particular during his time as interim CEO.

“Mat has worked tirelessly to ensure that ASOS has been able to make continued strategic progress, despite the prevailing market conditions which have existed since the global pandemic. We wish him well in the next chapter of his career.”

Dunn commented: “I have very much enjoyed my time at ASOS. We have achieved a lot over the last three years and the business is stronger as a result and I am sure will go on to great success. I am looking forward to my next challenge, but I will continue to follow what is happening at ASOS and I wish the board, José and the rest of the team all the best for the future.”

A process is underway to appoint a new CFO.